Poll: Would you use bitcoin?
Bitcoin buttons displayed on a table at the Inside Bitcoins conference in Berlin earlier this month. Bitcoin has no coinage, it is a virtual currency. Credit: AP / Frank Jordans
A major bitcoin exchange has apparently gone bust after racking up catastrophic losses. Other companies that trade in the virtual currency said Tuesday that the website of Mt. Gox, a Tokyo-based exchange, had disappeared, possibly causing hundreds of millions of dollars worth of losses.
Bitcoin enthusiasts were quick to call the incident an isolated case, and a variety of retailers have recently said they will accept bitcoin as payment, from Overstock.com to a Long Island bakery.
On bitcoin exchanges, the unregulated currency's value has ranged from $1,200 per bitcoin three months ago to $470 Tuesday.
Would you consider using bitcoin? Vote and leave a comment; a selection of comments will appear in next Sunday's business section.
Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
